MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAKUN PLASTICS PRIVATE LIMITED |
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Registered Office : |
B-111 (A), Road, No. 9, VKI Area, Jaipur-302013, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.09.1991 |
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Com. Reg. No.: |
17-6213 |
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CIN No.: [Company
Identification No.] |
U25209RJ1991PTC003213 |
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IEC No.: |
1395006270 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRS01329G |
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PAN No.: [Permanent
Account No.] |
AABCB9727Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Flniture packaging material |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported. The company can b e considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. R.K. Gupta |
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Designation : |
Managing Director |
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Contact No.: |
91-9414072257 |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office : |
B-111 (A), Road, No. 9, VKI Area, Jaipur-302013, Rajasthan, India |
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Tel. No.: |
91-141-2330721 |
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Mobile No.: |
91-9411072257 |
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Fax No.: |
91-141-2331806 |
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E-Mail : |
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Website : |
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Area : |
600 sq ft ( Owned) |
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Factory : |
B-A/4, Road No. 9, VKI Area, Jaipur-302013, Rajasthan, India |
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Tel. No.: |
91-141-2331730 |
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Area : |
8000 sq. ft ( Owned) |
DIRECTORS
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Name : |
Mr. R.K. Gupta |
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Designation : |
Managing Director |
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Address : |
2GA 24, Jawaar Nagar, Jaipur, Rajasthan, India |
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Date of Birth/Age : |
06.09.1952 |
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Qualification : |
B.E |
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Date of Appointment : |
23.09.1991 |
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Name : |
Mr. Chand Mal Gupta |
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Designation : |
Director |
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Address : |
2GA 24, Jawaar Nagar, Jaipur, Rajasthan, India |
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Date of Birth/Age : |
15.02.1926 |
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Qualification : |
M.SC |
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Date of Appointment : |
23.09.1991 |
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Name : |
Ms. Shakuntala Gupta |
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Designation : |
Director |
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Address : |
2GA 24, Jawaar Nagar, Jaipur, Rajasthan, India |
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Date of Birth/Age : |
14.08.1955 |
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Qualification : |
M.A |
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Date of Appointment : |
23.09.19991 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 26.09.2005
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Names of Shareholders |
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No. of Shares |
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R.K.Gupta |
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2060 |
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C.H. Gupta |
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1870 |
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Shkuntala Gupta |
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940 |
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Nikhil Gupta |
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370 |
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M.B,. Gupta |
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600 |
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Niral Gupta |
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200 |
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D.K. Gupta |
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100 |
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Pardap Agarval |
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40 |
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Uraile Agarwal |
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200 |
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Ravindra Goyal |
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200 |
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Pearl Polypack |
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810 |
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Jaradish Jangir |
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100 |
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Shanshi Mittal |
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100 |
Equity Share Breakup (Percentage of Total Equity)
As on 25.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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77.60 |
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Other top fifty ( 50) shareholders ( other than listed above) |
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22.40 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Flniture packaging material |
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Products : |
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Exports : |
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Products : |
Packaging Material |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
L/C and Cash |
GENERAL
INFORMATION
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No. of Employees : |
51 ( Factory 46, Office 5) |
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Bankers : |
State Bank of India, Vki Area, Jaipur-302013, Rajasthan, India |
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Facilities : |
CC and OD Rs. 8.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Amit Sharma Chartered Accountant |
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Address : |
7-SC Road Jaipur, Jaipur-302001, Rajasthan, India |
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Tel. No.: |
91-141-2377006 |
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Associates/Subsidiaries : |
Pearn Polypapers Private Limited Line of Business: Plastic Items |
CAPITAL STRUCTURE
As on 24.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
11340 |
Equity Shares |
Rs. 100/-
each |
Rs. 1.134
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.134 |
1.124 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.623 |
2.024 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.757 |
3.148 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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5.141 |
5.101 |
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TOTAL BORROWING |
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5.141 |
5.101 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.898 |
8.249 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.279 |
1.439 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.840 |
2.448 |
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Sundry Debtors |
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6.622 |
4.923 |
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Cash & Bank Balances |
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0.157 |
0.109 |
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Other Current Assets |
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1.240 |
0.873 |
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Loans & Advances |
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1.144 |
1.293 |
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Total
Current Assets |
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12.003 |
9.646 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.384 |
2.746 |
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Provisions |
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0.000 |
0.090 |
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Total
Current Liabilities |
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4.384 |
2.836 |
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Net Current Assets |
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7.619 |
6.810 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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8.898 |
8.249 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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45.357 |
40.074 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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45.357 |
40.074 |
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Profit/(Loss) Before Tax |
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0.599 |
0.706 |
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Provision for Taxation |
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0.000 |
0.089 |
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Profit/(Loss) After Tax |
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0.599 |
0.617 |
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Total Expenditure |
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44.758 |
39.368 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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1.32 |
1.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.32 |
1.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.51 |
6.37 |
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Return on Investment (ROI) (PBT/Networth) |
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0.16 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.54 |
2.52 |
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Current Ratio (Current Asset/Current Liability) |
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2.74 |
3.40 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
AABCB9727Q |
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VAT/ TIN Registration |
08351651009 |
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Excise Registration |
AABCS97270XM001 |
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Import Export Code |
1395006270 |
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Current Account Number |
1004040704039 |
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Account Since |
1992 |
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Credibility Factors |
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IndiaMART Client Since |
3 Years |
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Trade Affiliations |
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SSI Registration |
17/ 13/ 09674/ PMT/ SSI Dated 09.11.1992 |
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Standards & Certifications |
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Quality Management Systems |
ISO-90001, ITSA-012406 , Dated 2002, 2009 December |
Trade References:
- Saras
(Rajasthan Dairy Feetration )
- Agriculturral
Food Products (Kota)
- Vinayak Food
Products Limited, Jaipur
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25209RJ1991PTC003213 |
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Name of the
company |
SHAKUN PLASTICS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
B-111 (A), Road, No. 9, VKI Area, Jaipur-302013, Rajasthan, India |
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This form is for |
Modification of
Charge |
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Type of charge |
Hypothecation Equitable Mortgage or mortgage of property by depositing the title deeds |
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Particular of
charge holder |
State Bank of India, Vki Area, Jaipur-302013, Rajasthan, India |
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Amount secured by
the charge |
Rs. 1.200
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Interest to be
charged @ 75% above SBAR with minimum of 17.75% p.a. with quarterly rests |
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Description of
the property charged indicating whether it is a charged on |
Immovable properties
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Particulars of
the property charged |
All stocks of
LDPE/ HDPE Granuiles, films, resigns, finished goods, book-debts at B-111
(A-Road No. 9, VKI Area, Jaipuir |
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Charge
identification number of the charge to be modified |
90074500 |
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Brief description
of the instrument modifying the charge under section 135 |
Agreement of loan
cum hypothecation Letter of
Agreement Memorandum of
Equitable Mortgage |
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Date of
instrument modifying the charge |
01.09.2006 |
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Particulars of
the present modification |
Amount of limit
enhanced to Rs. 5.000 Millions C/C hypothecation Rs. 4.000 Millions L/C Rs.
1.000 Million Hypothecation of
entire current and fixed assets and Equitable mortgage of B-111 A-2, Road No.
9, VKI A, Jaipur extended |
Established in 1992, they have established their core competence in the
manufacture and export of reliable plastic products like: Plastic Bags, Plastic
Carry Bags, Shopping Bags, Refuse Bags, Laminated Shopping Bags, Plastic
Laminated Pouches ands LLDPE Bags.
They focus upon delivery of high quality, durable products along with superior
client services, which offers their clients a competitive advantage &
create value for their businesses. In order to achieve their goal of offering
quality products, they concentrate on offering value-added services to the
customers and satisfying emerging market needs.
The Strengths
Quality
For them quality is necessary to not just attract new customers but also to
retain the high reputation in market. The products are made of the best quality
materials available in market. The products are checked at every level of
production to ensure flawlessness and complete customer satisfaction.
Infrastructure
They
at Shakun Plastics have a well-knit infrastructure. The team comprises of
efficient designers, artisans and efficient workers. All work start and finish
under one roof. They have a strong production unit and is equipped with all
kinds of required machineries. The production unit is capable enough to make and
deliver any quantity as per the requirements of the customers. The designers
are skilled and are always working hard to match the latest trends of the
market. All the workers are headed by the experts. The experts monitor the
manufacturing process at different levels to ensure flawless products. A
separate team of quality controllers regularly conducts quality inspections.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.73 |
|
UK Pound |
1 |
Rs.80.57 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|